Vietnam’s overseas investment soars 74% in eight months

Update: 17:53 | 29/08/2021

Vietnam’s overseas investment surged 74.1% year on year to US$575 million in the first eight months of 2021, according to the Ministry of Planning and Investment.

The amount included US$150.1 million poured into 40 new projects, equivalent to 68.7% of the figure in the same period last year, while US$424.9 million was added to 13 existing ones, rising 3.8-fold.

Vietnam, overseas investment, eight months, new projects, wholesale and retail, Vietnamese investments

Vietnam’s overseas investment surged 74.1% year on year in the first eight months of 2021.

With US$270.8 million, science - technology tops the 13 sectors Vietnamese investors poured money into, accounting for 47.1% of the total overseas investment.

It is followed by wholesale and retail with US$150.9 million, equivalent to 26.2%; agriculture, forestry, and fisheries; and administrative activities and support services.

Vietnamese investments were channeled into 20 countries and territories during the eight months.

The US was the top destination with US$302.8 million, making up 52.7% of the total. Cambodia, Laos, and Canada followed, respectively attracting US$89.4 million, US$47.8 million and US$32.1 million.

As of August 20, Vietnam had 1,428 valid investment projects overseas, the majority of which, 36.3%, operated in the mining industry and 15.3% in the agro-forestry-fishery sector.

Laos was the largest recipient of Vietnamese investment with 23.8%, Cambodia 13.1%, and Russia 12.9%, the ministry’s Foreign Investment Agency said.

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Source: VnExpress

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